Bombay HC quashes reassessment notice and order disposing objections on the basis of affidavit in reply filed by the jurisdictional AO accepting error in issuing the impugned notice and order in view of year ending pressure leading to paucity of time to examine the audit objection; Assessee was subjected to scrutiny assessment for AY 2013-14 whereas subsequently an audit objection was raised concerning applicability of Section 10AA and reassessment was initiated;

Assessee received a reassessment notice dt. Mar 26, 2021, for AY 2013-14 and the order rejecting Assessee’s objections was rejected on Jan 20, 2022 which was under challenge in the instant writ petition;
The jurisdictional AO in Assessee’s case thereafter filed an affidavit before the honourable High Court in reply stating that there was a bonafide mistake in reopening the assessment and passing the order disposing objections committed due to March-end workload and paucity of time in examining the revenue audit objections; Also states that the reopening is unsustainable since there lies no adversarial position with the Assessee and that directions are sought from HC to end the litigation.